IPL Title Sponsor 2020: Dream11 wins IPL title sponsorship for Rs 222 crores

IPL Title Sponsor 2020: Dream11 has won IPL 2020 title sponsorship bid for Rs 222 crores. This was announced by IPL Chairman Brijesh Patel on August 18, 2020. 

Dream11, the fantasy sports platform won the IPL Title rights by outbidding the IPL Title Sponsor favourites Tata Sons and educational platforms Byju's and Unacademy. 

Dream11 wins IPL 2020 title sponsorship for Rs 222 crores: IPL Chairman Brijesh Patel

— ANI (@ANI) August 18, 2020

IPL Title Sponsor Bid

• Dream11 placed the winning IPL title bid worth Rs 222 crore. The closest other IPL Title bid was by Unacademy for 210 crores, followed by Tata Sons' bid worth Rs 180 crores and Byju's bid of 125 crores.

• Dream11 had signed up as one of the official partners of the Indian Premier league in 2019 and in 2020 it has become the Title Sponsor. 

• Tata Sons had submitted its interest to sponsor the IPL 2020 edition on August 14. The group was seen as one of the top contenders to win IPL Title rights, as the company fit perfectly with BCCI's terms and conditions for a Title sponsor. 

• The BCCI had announced earlier that only companies with a turnover of over Rs 300 crores will be allowed to bid for the IPL Title rights, which will be available from August 18, 2020 to December 31, 2020. 

What is Dream11?

Dream11 is an India-based fantasy sports platform. The platform allows its users to play fantasy sports including cricket, football, hockey, basketball and kabaddi. 

Vivo pulls out of IPL Title Sponsorship

The BCCI had opened the bidding process for IPL 2020 Title sponsorship after the Chinese smartphone maker Vivo pull as the sponsor of this year's IPL edition due to the growing backlash in India against Chinese companies. 

Vivo India had won the IPL title sponsorship rights in 2017 for a period of five years for Rs 2199 crore. Vivo had then replaced Soft drink giant PepsiCo as IPL Title sponsor. 

Background 

This year's Indian Premier League will be held in the United Arab Emirates from September 19 with the IPL final scheduled on November 10. The 2020 IPL edition was shifted outside India due to concerns over rising COVID-19 cases in India.